Getting rich is very easy, although it requires discipline.
Of course you have to define "rich".
I define it as having enough money to support my desired lifestyle.
I calculated that if I had no debts, $2 million will give me that life style.
That to me is rich.
It may not be for you.
But see I am making a point.
If you try to define rich as something that is an impossible goal, you will be miserable.
So define rich as something you can reach and be comfortable with.
Rest is time, discipline and planning.
Here is a simple example.
If you start with zero savings, and saved $1,500 a month for 30 years (average working life span for a person) and assumed a 6% yield annually, you will end up with about $2 million.
That is enough for most people to retire on, so long as they do not have extraordinary circumstances like a sick spouse, or huge debts.
So, see rich is achievable.
But you have to start young.
Thinking about retiring rich at age 50 when you have not saved or invested wisely is foolishness.
Remember three things to get rich.
One, cut out all frivolity, except an occasional splurge that is reserved for celebrating a special moment-like when you accumulate your first million.
Second, save conservatively.
Stop chasing dreams.
If someone wants you to invest in a secret portfolio that is going to yield three times going rate, forget it.
Most of us are lucky if we stay ahead of inflation.
If you can consistently and sustainably double it (hence the above assumption of 6% yield) you are doing wonderfully well.
Third, do your investing home work.
It is easy.
You do not need to be a Buffet, or a Gross.
Typically, up to the age 30, your equity percentage of portfolio can be 3 times (90%), up to age 40, 2 times (80%) then it has to reduce to one time your age-at 60 it should be no more than 60% of your portfolio, rest in safer, fixed income investments like treasuries and bonds.
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